Vegetable processor China Minzhong Food Corp. is hoping to raise S$237m (US$169.8m) through a listing in Singapore.
Minzhong is issuing just over 119.6m shares in the business. Four of its shareholders are making an aggregate offering of just over 77.7m shares. The offer price is S$1.20 a share.
Go deeper with GlobalData
The company is planning to increase its production capacity and invest in buying new land for cultivation.
Minzhong CEO and executive director Lin Guo Rong said the planned IPO was an “important milestone” for the business.
“We believe that our focus on diversifying our products, increasing our production and cultivation capacity, as well as expanding our sales network, positions us well for continued growth and success as China is one of the world’s largest exporters of fresh produce and processed vegetables.
“The IPO will provide us with the right platform to execute our expansion plans and tap on the strong global and domestic market demand for quality vegetables on the back of rising health consciousness and growing world population, which presents huge opportunities for Minzhong’s future growth.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe share offer will close on 13 April.
